FAIRLAWN, Ohio (June 27) – Omnova Solutions Inc. posted a net loss of $5 million, or 12 cents per share, on sales of $176.6 million during the second quarter ended May 31, the Fairlawn company reported. Omnova had earnings of $5.5 million on sales of $175 million in the second quarter of 2002. Higher costs in key raw materials—including styrene and butadiene—negatively impacted the company's bottom line but were partially offset by ongoing cost-reduction efforts and product price increases, said Kevin McMullen, Omnova chairman and CEO. For the first six months of the fiscal year, the firm reported a net loss of $11.9 million on net sales of $330 million.
Omnova reports net loss in second quarter
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